Ancora Advisors LLC Sells 105,356 Shares of Kellanova (NYSE:K)

Ancora Advisors LLC trimmed its holdings in Kellanova (NYSE:K - Free Report) by 28.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 268,273 shares of the company's stock after selling 105,356 shares during the period. Ancora Advisors LLC owned 0.08% of Kellanova worth $21,722,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in Kellanova during the 4th quarter worth approximately $285,126,000. Franklin Resources Inc. raised its stake in shares of Kellanova by 869.5% in the 4th quarter. Franklin Resources Inc. now owns 2,579,058 shares of the company's stock valued at $208,826,000 after purchasing an additional 2,313,047 shares in the last quarter. FIL Ltd lifted its holdings in Kellanova by 182.3% during the 4th quarter. FIL Ltd now owns 2,388,000 shares of the company's stock worth $193,356,000 after buying an additional 1,542,000 shares during the last quarter. Barclays PLC increased its stake in Kellanova by 134.7% during the third quarter. Barclays PLC now owns 1,800,363 shares of the company's stock valued at $145,309,000 after purchasing an additional 1,033,383 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its stake in Kellanova by 136.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 1,745,788 shares of the company's stock worth $141,356,000 after acquiring an additional 1,006,100 shares during the period. 83.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

K has been the topic of a number of recent research reports. Royal Bank of Canada cut Kellanova from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 14th. StockNews.com lowered shares of Kellanova from a "buy" rating to a "hold" rating in a research note on Friday. Thirteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Kellanova has an average rating of "Hold" and an average target price of $79.41.

Kellanova Price Performance

NYSE:K traded down $0.07 during mid-day trading on Tuesday, reaching $82.54. 2,602,585 shares of the stock were exchanged, compared to its average volume of 2,687,184. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.29. The business has a fifty day moving average price of $82.40 and a 200 day moving average price of $81.67. Kellanova has a 1-year low of $55.96 and a 1-year high of $83.22. The firm has a market capitalization of $28.49 billion, a PE ratio of 21.33, a PEG ratio of 4.21 and a beta of 0.30.

Kellanova (NYSE:K - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. Kellanova had a net margin of 10.53% and a return on equity of 37.25%. The firm's revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 earnings per share. Research analysts expect that Kellanova will post 3.93 earnings per share for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.76%. Kellanova's dividend payout ratio is presently 57.58%.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of Kellanova stock in a transaction on Monday, April 7th. The stock was sold at an average price of $82.03, for a total transaction of $9,399,243.49. Following the completion of the sale, the insider now owns 47,274,531 shares of the company's stock, valued at approximately $3,877,929,777.93. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,260,413 shares of company stock worth $103,801,886 over the last ninety days. 1.80% of the stock is currently owned by company insiders.

Kellanova Profile

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.